In fact, the SEC's whistleblower program is handing out its "highest-ever Dodd-Frank whistleblower awards" to two claimants that will share "nearly $50 million," and a third claimant that will get more than $33 million. Previously, the highest amount was a hefty $30 million paid out in 2014.
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The fatal accident involving an Uber self-driving car cranks up pressure on the self-driving vehicle industry to prove its software and sensors are safe in the absence of strong government standards, experts in the field said.
The Commodity Futures Trading Commission (CFTC) today announced that Judge Brian J. Davis of the Middle District of Florida has ordered Defendants Maverick International, Inc. (Maverick), and its principals Edward Rubin and Wesley Allen Brown to pay $8,605,274.92 in combined restitution and civil monetary penalties for commodity futures fraud, commodity pool fraud, and related violations of federal commodity laws.
The death of a pedestrian hit by a self-driving Uber vehicle in Arizona this week could offer a test of who can be held legally responsible for accidents when a human is no longer at the wheel.
The whistleblower who publicly revealed how Trump-affiliated data firm Cambridge Analytica used information mined from Facebook under false pretenses during the 2016 election cycle will give an interview to Democrats on the House Intelligence Committee as part of their investigation of Russian interference in the election, including possible ties to Donald Trump's campaign
BMW AG became the latest in a list of carmakers under investigation over suspected illegal devices to influence emissions setups in its diesel vehicles -- even as the German carmaker said it simply made a mistake.
The Securities and Exchange Commission today announced its highest-ever Dodd-Frank whistleblower awards, with two whistleblowers sharing a nearly $50 million award and a third whistleblower receiving more than $33 million. The previous high was a $30 million award in 2014.
Uber has halted testing of its autonomous vehicles across North America, the company announced, after a woman was struck and killed by one of its self-driving cars in Tempe, Ariz. early Monday.
That theory is about to undergo a critical test in a class action by indirect investors in, you guessed it, Theranos. Last month, shareholder lawyers at Hagens Berman Sobol Shapiro and Robbins Geller Rudman & Dowd filed a motion to certify a class of more than 200 investors who plunked down money in funds that owned shares of Theranos.
Fiat Chrysler was denied a quick escape from a lawsuit that accuses the carmaker of rigging diesel engines with emissions control defeat devices similar to those installed in 11 million Volkswagen vehicles.
Political tribalism overrules common sense, even on bank regulation With the 10th anniversary of Bear Stearns' collapse coming up this week, leave it to Congress to find the perfect way to mark the occasion — by voting for another financial crisis. This effectively is what the Senate risked late Wednesday in approving, by a vote of 67 to 31, a revision of the Dodd-Frank financial reform law that weakens federal oversight of banks with up to $250 billion in assets.
Who is Haim Bodek? Haim was the first whistleblower to expose how a major stock exchange (Direct Edge) created an order type (Hide Not Slide) that provided HFT firms with unfair advantages that propelled them to the exchanges' best prices at investors' expense. Back in 2012, the financial media was all over this story and market structure savvy journalists like Scott Patterson were able to shine a light on these shady exchange practices. Scott's article "How "Hide Not Slide" Orders Work" was a virtual blueprint in how unsuspecting investors were getting ripped off by HFT traders who were armed with Direct Edge's special order type. Direct Edge was subsequently fined $14 million by the SEC for failing to properly describe order types.
Since the American civil war, the US government has relied on private whistleblowers to help it ferret out overcharging and other fraud by government contractors. Filed under the False Claims Act, these qui tam lawsuits allow individuals to sue on behalf of the federal government and then share in the proceeds if the claims hold up.
The Securities and Exchange Commission has charged a penny stock promoter based in Florida with defrauding investors in a pair of gold mining stocks by secretly amassing shares before touting the companies publicly.
Australian Automobile Association said tests on local vehicles before and after being updated showed they were still exceeding regulations.
Rosenberg is the fourth doctor jailed over Insys bribes following a federal probe that resulted in the indictment of billionaire founder and Chief Executive Officer John Kapoor and six other executives. The group was charged with orchestrating an elaborate scheme to bribe doctors and defraud health-care providers.
Hyundai is recalling nearly 155,000 Sonata midsize cars in the U.S. because the air bags may not inflate in a crash.
A one-time U.S. Justice Department lawyer, Wertkin came up with a plan to steal secret whistle-blower lawsuits and then sell the documents to the companies named in them because he believed his $450,000 salary at Washington's Akin Gump Strauss Hauer & Feld LLP undervalued him, a prosecutor told the judge during a sentencing hearing in San Francisco federal court.
A former employee of a U.S. government contractor in Afghanistan pleaded guilty today to accepting illegal kickbacks from an Afghan subcontractor in return for his assistance in obtaining subcontracts on U.S. government contracts.
Some 6,000 early deaths linked to nitrogen oxides (NOx) are recorded each year in Germany, the Federal Environmental Agency said on Thursday, providing more evidence of the health hazards posed by the toxic particles mostly produced by diesel engines.
